Watts Water Technologies, Inc. $WTS Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL reduced its stake in Watts Water Technologies by 1.5%, selling 7,013 shares, which accounts for approximately 1.0% of their total holdings.
• Watts Water Technologies reported $3.09 EPS for the latest quarter, surpassing analysts' expectations, with a revenue of $643.70 million, marking a 7.8% increase from the previous year.
• The company's quarterly dividend of $0.52 will be paid to shareholders on September 15th, representing an annual yield of 0.7%.

Gamco Investors INC. ET AL decreased its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 460,238 shares of the technology company's stock after selling 7,013 shares during the period. Watts Water Technologies accounts for about 1.0% of Gamco Investors INC. ET AL's portfolio, making the stock its 15th biggest position. Gamco Investors INC. ET AL owned 1.38% of Watts Water Technologies worth $93,852,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Costello Asset Management INC bought a new position in shares of Watts Water Technologies in the first quarter valued at approximately $33,000. Versant Capital Management Inc increased its holdings in Watts Water Technologies by 57.3% during the 1st quarter. Versant Capital Management Inc now owns 225 shares of the technology company's stock valued at $46,000 after purchasing an additional 82 shares during the period. GAMMA Investing LLC boosted its position in Watts Water Technologies by 80.5% during the 1st quarter. GAMMA Investing LLC now owns 278 shares of the technology company's stock valued at $57,000 after acquiring an additional 124 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Watts Water Technologies by 45.0% in the 1st quarter. Parallel Advisors LLC now owns 293 shares of the technology company's stock worth $60,000 after purchasing an additional 91 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in Watts Water Technologies in the 1st quarter valued at approximately $64,000. Institutional investors own 95.02% of the company's stock.

Watts Water Technologies Stock Performance

Shares of Watts Water Technologies stock traded down $6.21 during trading on Friday, hitting $276.49. 307,137 shares of the company's stock were exchanged, compared to its average volume of 201,303. Watts Water Technologies, Inc. has a 52-week low of $177.59 and a 52-week high of $285.90. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.63 and a current ratio of 2.59. The business has a 50-day simple moving average of $260.41 and a 200-day simple moving average of $232.84. The stock has a market capitalization of $9.22 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 3.44 and a beta of 1.13.

Watts Water Technologies (NYSE:WTS - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The technology company reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.41. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The company had revenue of $643.70 million during the quarter, compared to analysts' expectations of $612.15 million. During the same quarter in the previous year, the company earned $2.46 earnings per share. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. Watts Water Technologies's payout ratio is presently 22.37%.

Analyst Upgrades and Downgrades

WTS has been the subject of several analyst reports. Stifel Nicolaus upped their price objective on Watts Water Technologies from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Northcoast Research downgraded shares of Watts Water Technologies from a "buy" rating to a "neutral" rating in a report on Friday, May 16th. Wall Street Zen raised shares of Watts Water Technologies from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Watts Water Technologies in a research report on Friday, August 8th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Watts Water Technologies presently has an average rating of "Hold" and a consensus target price of $245.50.

Insider Transactions at Watts Water Technologies

In related news, Director Joseph T. Noonan sold 713 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total transaction of $195,682.85. Following the completion of the sale, the director owned 1,194 shares of the company's stock, valued at approximately $327,693.30. This represents a 37.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company's stock.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.